<span item_type="fundamental" item_id="bd2d727d3788c1336b4900219be14692" counter_id="ST/US/EDSA" env="prod"></span><span item_type="announcement" item_id="592950036656886145" env="prod"></span><p>Revenue: As of FY2025, the actual value is USD 0.</p><p>EPS: As of FY2025, the actual value is USD -1.27, missing the estimate of USD -1.17.</p><p>EBIT: As of FY2025, the actual value is USD -7.914 M.</p><p></p><h3>Segment Revenue</h3><ul><li><strong>Research and Development (R&amp;D) Expenses</strong>: R&amp;D expenses increased by $0.8 million to $3.7 million for the year ended September 30, 2025, compared to $2.9 million for the prior year. This increase was primarily due to higher expenses for manufacturing-related activities and preparations for the planned Phase 2 clinical study of EB06 in vitiligo patients, as well as increased research expenses related to the completion of the Phase 3 study of paridiprubart (EB05) and supply costs for the ongoing U.S. government-funded study of paridiprubart.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1540159/000117184325007914/edsa20250930_10k.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li><strong>Net Loss</strong>: The net loss for the year ended September 30, 2025, was $7.2 million, or $1.27 per common share, compared to a net loss of $6.2 million, or $1.93 per common share, for the year ended September 30, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1540159/000117184325007914/edsa20250930_10k.htm"></span></li><li><strong>General and Administrative (G&amp;A) Expenses</strong>: G&amp;A expenses increased by $0.1 million to $4.2 million for the year ended September 30, 2025, compared to $4.1 million for the prior year, primarily due to an increase in noncash share-based compensation, partially offset by a decrease in professional fees.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1540159/000117184325007914/edsa20250930_10k.htm"></span></li></ul><h3>Cash Flow</h3><ul><li><strong>Net Cash Used in Operating Activities</strong>: Net cash used in operating activities was $7.3 million for the year ended September 30, 2025, compared to $4.9 million for the year ended September 30, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1540159/000117184325007914/edsa20250930_10k.htm"></span></li><li><strong>Net Cash Provided by Financing Activities</strong>: Net cash provided by financing activities was $17.0 million for the year ended September 30, 2025, compared to $0.6 million for the year ended September 30, 2024. This included proceeds from the private placement of Series B-1 Preferred Shares, Series A-1 Preferred Shares and Warrants, and sales under the HCW ATM.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1540159/000117184325007914/edsa20250930_10k.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li><strong>Grant Income</strong>: Grant income increased by $0.1 million to $0.8 million for the year ended September 30, 2025, compared to $0.7 million for the prior year, reflecting an increase in grant income associated with reimbursable expenses under the 2023 SIF Agreement.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1540159/000117184325007914/edsa20250930_10k.htm"></span></li></ul><h3>Outlook / Guidance</h3><ul><li>The company anticipates that its cash and cash equivalents at September 30, 2025, future sales of common shares pursuant to the HCW ATM, and reimbursements of eligible R&amp;D expenses under the 2023 SIF Agreement will not be sufficient to fund its operating expenses, including the advancement of the vitiligo program through the end of fiscal 2026. Management has flexibility to adjust this timeline by making changes to planned expenditures related to clinical trial expenditures, manufacturing campaigns, staffing levels, and the acquisition or in-licensing of new product candidates.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1540159/000117184325007914/edsa20250930_10k.htm"></span></li></ul>

Edesa Biotech | 10-K: FY2025 Revenue: USD 0